{
State Secretariat for Economic Affairs (Seco)

Companies

}

Switzerland's Struggle with Sanctions Against Russia and Its Neutrality Policy

Switzerland's Federal Council has opted not to adopt the EU's new sanctions requiring companies to ensure their foreign subsidiaries comply with restrictions against Russia, a decision criticized by the Social Democrats and the US ambassador. While supporting sanctions is essential, the proposed extraterritorial application is legally problematic and lacks effective enforcement mechanisms. Instead, Switzerland should focus on strengthening its own regulatory capabilities to monitor and address potential circumventions of sanctions within its territory.
Neue Zürcher Zeitung
United States Dollar State Secretariat for Economic Affairs (Seco) USA Scott Miller G. T.
Regulatory & Legal, News Article
18:44 18.10.2024
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